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These mostly come from overdrafts and other account maintenance charges.
Here are five valuable types of alerts to consideradding to your bank account.
Thats why setting up a low balance alert may be a good move.
This can be especially helpful when dealing with unusual charges.
A low balance alert could notify you of the pending charge.
Unusual Activity Alerts
Some banks also have alert systems for unusual account activity.
For instance, you might live in California but suddenly have a debit transaction in Texas.
Your banks alert system could let you know in case its fraud.
Knowing this would help you take action to address the issue sooner.
Sometimes, thats all it takes to avoid overdraft fees and related charges.
For example, you might need to delay making your car payment after an unusual activity alert.
Large Purchase and Withdrawal Alerts
The average American spends just over $6,000 on monthly expenses.
It can be difficult to keep track of every bill.
Most of us have forgotten about an upcoming payment at some point in our lives.
Thats what makes bank alerts for large purchases and withdrawals valuable.
These alerts let you know when money comes out of your account.
You may be able to set thresholds for a dollar amount that will trigger the alert.
Profile Change Alerts
Nearly 1 in 3 Americans have been victims of financial fraud online.
If your bank account gets hacked, you want to be able to respond quickly.
Doing so may help you avoid overdraft fees which arent always refunded, even when stolen funds are.
Thats why you should consider setting up alerts for profile changes on your bank account.
Doing so would let you know whenever your address, email or password is updated.
you could use that information to stop fraud faster.
For instance, you might get a text alert that your password was changed.
Upcoming Payment Alerts
Finally, consider setting up upcoming payment alerts on your bank account.
These warn you of pending charges that youve already approved.
This can help you stay on top of your finances so its easier to avoid fees.
You may also need to refresh your alert parameters from time to time as your financial needs evolve.
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